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Emerging Trends Influencing The Growth Of The Shortenings Market: HubSpot's Innovative Solution For Marketing, Sales, And Service Teamsket
Shortenings
How Big Is the Shortenings Market Size Expected to Be by 2034?
The market size for shortenings has been experiencing steadfast growth over the past years. It's projected to increase from $4.41 billion in 2024 to $4.58 billion in 2025, with a compound annual growth rate (CAGR) of 4.0%. The notable growth during the historical period is linked to traditional cooking techniques, the expansion of the bakery and confectionery industry, the increasing demand for processed food, a spike in fast-food consumption, efforts to extend shelf-life, and customer preference for texture and mouthfeel.
Predictions indicate a consistent rise in the market size of shortenings in the imminent years. It's projected to increase to $5.42 billion in 2029 at a Compound Annual Growth Rate (CAGR) of 4.3%. Drivers of this growth in the forecasted period include health-oriented consumer decisions, an interest in clean label products, the demand for plant-based and specialty fats, gluten-free and allergen-free commodities, and the global diffusion of food tastes. The forecast period is also set to usher in new trends like enhancements in texture-evolving ingredients, clean frying methods, innovative packaging for ease of use, progressive developments in manufacturing, and strategic collaborations and partnerships.
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What Are the Emerging Segments Within the Shortenings Market?
The shortenings market covered in this report is segmented -
1) By Variant: Solid, Liquid, Cake Or Icing, All-Purpose
2) By Source: Vegetables, Animal
3) By Sales Channels: Direct Sales, Indirect Sales
4) By End User: HoReCa, Bakery, Confectionery, Processed Food, Household Retail
Subsegments:
1) By Solid: Butter Blends, Margarine, Shortening Sticks
2) By Liquid: Vegetable Oils, Liquid Margarine, Canola Oil Blends
3) By Cake Or Icing: Whipped Toppings, Cream Cheese Frosting, Specialty Cake Shortenings
4) By All-Purpose: Multi-Functional Shortenings, Bakery Shortenings
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What Long-Term Drivers Are Shaping Shortenings Market Trends?
A surge in the demand for bakery items such as bread and cakes, is fuelling the growth of the shortenings sector. The escalation in the popularity of gourmet items and shift in dietary habits has resulted in a higher demand for bakery products. Shortening enhances these bakery products by offering a crumbly, crisp texture and inhibiting the product from becoming too rubbery or stretchy. For example, in November 2022, Agriculture and Agri-Food Canada, a department of the Canadian government, reported that the total global retail sales of baked goods were $425.7 billion in 2022, which was an upswing from $407.2 billion in 2021. Subsequently, this surging demand for bakery items will drive the growth of the shortenings market.
Who Are the Top Competitors in Key Shortenings Market Segments?
Major companies operating in the shortenings market are Cargill Incorporated, Bunge Limited, Wilmar International Limited, Archer Daniels Midland Company, Ventura Foods LLC, AAK AB, Manildra Group, International Foodstuff Company Holdings Limited, Conagra Brands Inc., Stratas Foods LLC, Premium Vegetable Oils Sdn Bhd, Namchow Chemical Industrial Co. Ltd., Fuji Oil Co. Ltd., Kerry Group PLC, Upfield Holdings BV, NMGK Group, BRF SA, Yildiz Holding AS, Mallet & Company Inc., Palsgaard A/S, Walter Rau Neusser Öl und Fett AG, Puratos Group NV, Princes Limited, Zeelandia International BV, Olenex Sàrl, HAS Group, VFI GmbH, COFCO Group Co. Ltd., Fine Organics Limited
What Shortenings Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the shortening market are focusing on creating innovative technological solutions like Breeze AI to bolster their operational efficiency, refine their product mix, and better understand customers through sophisticated data analytics. Breeze AI, a product of HubSpot, is an integrated AI platform designed to simplify customer interactions and boost efficiency across marketing, sales, and service departments. In September of 2024, HubSpot, a US-based software organization, unveiled Breeze. This AI platform, integrated into HubSpot, provides a way to refine customer interactions and streamline processes for marketing, sales, and service teams via intelligent automation and insights driven by data.
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Which Regions Are Becoming Hubs for Shortenings Market Innovation?
North America was the largest region in the shortenings market in 2024. The regions covered in the shortenings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Shortenings Market?
2. What is the CAGR expected in the Shortenings Market?
3. What Are the Key Innovations Transforming the Shortenings Industry?
4. Which Region Is Leading the Shortenings Market?
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